Week Ahead: 31 March 2025 The coming week will be pivotal as markets assess global reactions to the United States' implementation of reciprocal tariffs and whether President Trump signals any recalibration of trade policy. Among the various risks, the psychological impact on consumer confidence is particularly significant. As evidenced by China’s experience, restoring consumer sentiment and reigniting domestic consumption is no easy task. We do not have any short-term (tactical) ideas for the week ahead. Instead, we will be closely monitoring demand-supply dynamics to identify any short- and long-term opportunities. We wish all our Muslim readers Selamat Hari Raya Aidilfitri Medium Term: S&P 500 (SPX): The S&P 500 continues to hover around the 5,500 level (Fibonacci 1.618% support) and is showing increasing evidence of potential to test the resistance zone at 5,780–5,840, where previous support has turned into resistance. Straits Times Index ...